Unqork’s Enterprise No-Code Platform Selected by SMBC to Power Its Digitization Efforts
SMBC will leverage Unqork to build out an internal Center of Excellence for digitization using no-code
NEW YORK – March 31, 2022 – Unqork, the leading enterprise no-code platform, announced it has entered into an agreement with Sumitomo Mitsui Banking Corporation (“SMBC”) to use Unqork’s no-code platform to digitize core SMBC operations as part of the bank’s focus on innovation and automation. The announcement comes as part of a digital strategy driven by SMBC’s Digital & Innovation group to build strong in-house capabilities and an internal Center of Excellence around no-code, digital, and automation.
The partnership will start with a focus on digitization within SMBC’s capital markets division, and then scale to support SMBC’s larger digital strategy and development of an internal Center of Excellence. By rapidly identifying use cases across SMBC that can benefit from digitization and automation and then bringing solutions to market at faster speed with tools like Unqork, SMBC will benefit from a significant competitive advantage.
“It is our pleasure to partner with Unqork to accelerate our goal of removing manual interventions in various key bank processes, which will help us simultaneously reduce costs associated with manual processes, and improve our data quality which will support the innovation and fintech initiatives we have on our roadmap,” said Steve Dunn, Head of Partnerships, Innovation & Fintech at SMBC Americas Division.
Unqork was designed specifically for highly-regulated industries and has deep experience serving customers in financial services. SMBC chose Unqork as the no-code platform for this effort given its proven ability to deliver business value - helping customers get to market faster while enhancing quality and lowering costs for development and maintenance.
“Once Unqork is introduced into an organization, there are endless possibilities for digitizing and automating mission-critical processes,” said Rabih Ramadi, Head of Financial Services and Insurance, Unqork. “We are impressed with SMBC’s innovative approach to digitization and are excited to partner with them on this endeavor.”
Unqork is the industry pioneer no-code enterprise application platform that helps large companies build, deploy, and manage complex applications without writing a single line of code. Organizations like Goldman Sachs, Liberty Mutual, the Cities of New York, Chicago and Washington, DC and Maimonides Medical Center are using Unqork's drag-and-drop interface to build enterprise applications faster, with higher quality, and lower costs than conventional approaches. To learn more, please visit: https://www.unqork.com.
About SMBC Group
SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 85,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges. As of December 31, 2021, its total assets were $2.18 trillion.
In the Americas, SMBC Group has a presence in the U.S., Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC Rail Services LLC, Manufacturers Bank, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.